1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Copper price keeps soaring despite China’s attempt to cool rally www.mining.com

Copper price rose on Wednesday, one day after China’s National Food & Strategic Reserves Administration announced that it intended to sell 20,000 tonnes of copper in an initial batch of sales of state metal reserves.
The release of state metal reserves in China, the world’s biggest metals consumer, is one of a number of attempts by Beijing to cool a stellar rally in commodity prices that has squeezed manufacturers’ margins.
Copper for delivery in July rose 2.6% from Tuesday’s settlement price, touching $4.342 per pound ($9,552 per tonne) midday Wednesday on the Comex market in New York.
According to Citigroup, Beijing’s measures “target managing expectations and deterring speculators rather than solving supply/demand imbalances.”
Demand for copper is rising for use in renewable energy projects and electric vehicles.
“We do not think the rally is over,” the bank said in a note.
Glencore CEO Ivan Glasenberg said on Tuesday that copper supplies need to increase by one million tonnes a year until 2050 to meet an expected demand of 60 million tonnes, but he stopped short of predicting a supercycle.
“Today, the world consumes 30 million tonnes of copper per year and by the year 2050, following this trajectory, we’ve got to produce 60 million tonnes of copper per year,” he said.
“If you look at the historical past 10 years, we’ve only added 500,000 tonnes per year … Do we have the projects? I don’t think so. I think it will be extremely difficult.”
(With files from Reuters and Bloomberg)
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United States Provides an Additional $250,000 (700 Million MNT) to Combat COVID-19 in Mongolia www.mn.usembassy.gov

Ulaanbaatar, June 24, 2021 — The United States, through the United States Agency for International Development (USAID), has committed an additional $250,000 (700 million MNT) to support the Government of Mongolia’s efforts to fight the COVID-19 pandemic. Through its implementing partner, the United Nations Children’s Fund (UNICEF), USAID will support the Mongolian Ministry of Health’s vaccine distribution efforts, including the monitoring and disposal of supplies, improving cold chain storage, and providing real-time data on immunizations.
“The rapid spread of COVID-19 has demonstrated that no nation can act alone against a global pandemic. The United States is proud to have Mongolia as a Strategic Partner, and this assistance today is a clear demonstration of our unwavering cooperation,” said U.S. Ambassador Michael S. Klecheski. “As a friend and third neighbor, the United States will continue to stand by the people of Mongolia in these challenging times.”
With this additional assistance, the United States has provided over $4 million (11 billion MNT) bilaterally to help Mongolia respond to COVID-19. USAID is focused on strengthening Mongolia’s ability to fight the disease through infection prevention and control; preparing laboratory systems for large-scale testing; and communicating with the public on steps they can take to prevent and respond to the spread of the virus.
The United States is the world’s largest provider of assistance in public health. Over the past two decades, the United States has provided more than $140 billion in global health assistance. This includes being the single largest donor to COVAX, the COVID-19 Vaccine Global Access initiative with an initial pledge of $2 billion through USAID—out of a total planned $4 billion—to support the purchase and delivery of COVID-19 vaccines for Mongolia and 91 other countries.
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Mongolia adds 2,366 new COVID-9 cases www.xinhuanet.com

June 24 (Xinhua) -- Mongolia reported 2,366 new COVID-19 cases over the past 24 hours, raising the national caseload to 102,629, the health ministry said on Thursday.
Thirteen more fatalities were reported in the past day, bringing the nationwide death toll to 500, the ministry said in a statement, adding that 1,059 more patients recovered, taking the total recoveries to 66,602.
The Asian country launched a national vaccination campaign against COVID-19 in late February, with the aim of covering at least 60 percent of its population of 3.3 million.
More than 1,713,700 Mongolians have been fully vaccinated so far.
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Leading banking, finance and technology companies taking their strategic partnership to next level www.montsame.mn

Ard Financial Group JSC (Ard), GrapeCity Mongol LLC (Grape), and MOST Fintech (MOST) signed a strategic partnership agreement in 2017. On June 23, they confirmed this partnership and announced the start of the next stage of cooperation.
Grape, established in 2000, supplies banking software to 12 out of the 13 commercial banks operating in Mongolia. Ten of them use Grape's core banking system. Grape is taking steps to compete internationally.
MOST, Mongolia's first Fintech company, was established in 2008 with a mission to build a nationwide online payment infrastructure. It received the first and only license to operate a payment system network from the Bank of Mongolia. It has been providing Ard App's payment service infrastructure to more than one million users.
As part of the next stage of the partnership, Grape and MOST are looking to become publicly listed companies. Ard and other strategic investors will lead pre-IPO equity rounds, while Ard Securities will work as the primary underwriter of the IPOs. The IPOs will allow the public to own shares in the first publicly-traded IT service company in the Mongolian stock market.
Thus, the partnership of Mongolia's leading banking and payment software company and industry-leading fintech companies will make it easier to provide financial and technological services to customers in a more accessible and straightforward way.
Founder of Grape, Chairman of the Board of Most, and Mongolia's first programmer Mr. Suhdorj Avir founded BSB Group, Mongolia's foremost information technology company in 1991; Grape, a banking and payment software solutions company in 2000; and Incomnet, a satellite communications service provider in 2001. He is a pioneer in Mongolia's telecommunications and has been a driving force in the banking and payment sector. He has implemented several successful projects over the past 40 years, establishing the country's first payment service operator (MOST) in 2008 and launching the MostMoney mobile wallet in 2012.
In terms of assets, Grape accounts for 83 percent of the domestic banking software market. Over 150 NBFIs, SCCs, and microfinance institutions use Grape's POLARIS system for microfinance institutions' accounting. Considering this unique situation, Grape has made the MOST platform publicly available to the public.
Ard Financial Group is a diversified financial services holding company with the overarching goal of increasing its shareholders’ equity through investing in and developing leading financial services and technology companies. Our investment portfolio consists of companies such as Ard Insurance, Ard Credit, Ard Securities, Ard Life, Ard Assets, Ard Management, Ard Bit, TenGer Systems, MEC Partners (ardshop.mn), Mongol Post, Ard Holdings International, Ard Leasing, Ard Properties and Ard Realty. Ard App, Ard Fintech, ArdCoin, Ard Cash, CryptoNation, Digital Assets Exchange and Ard Digital Bazaar are proprietary digital products based on artificial intelligence and blockchain technology.
Source: Ard Financial Group
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World Bank to support sustainable urban transport in Ulaanbaatar www.montsame.mn

On June 23, 2021, the World Bank Board of Directors approved a $100 million loan to support the Ulaanbaatar Sustainable Urban Transport Project, which will develop a comprehensive framework for sustainable urban mobility for Mongolia’s capital, and will reduce congestion, improve road safety, and address climate resilience on selected transport corridors.
In Ulaanbaatar, where close to 50 percent of the country’s population resides, travel demand has been increasing due to rapid urbanization. The city’s current 1,100-km-long street network is sparse and disconnected, while traffic management and road safety facilities are insufficient, causing delays, traffic accidents, and congestion. Poor public transport services and vulnerability to natural hazards such as flooding are affecting residents’ livelihoods and disproportionately hurting vulnerable and low-income populations. At the same time, lack of evidence-based planning and management, and weak institutional capacity have hampered efficient allocation of limited financial resources.
The project will finance street network infrastructure for selected transport corridors as well as better integrated public transport systems. This includes road reconfiguration, rehabilitation, and construction on selected priority corridors, upgrading bus management systems and improvements of bus stops, and installation of intelligent transport systems and smart parking management systems across the city. The project will also support strategic studies and capacity building activities to help the municipality build effective institutions for transport planning and management.
“Improving traffic conditions in Ulaanbaatar has become a top priority for the municipality and the Mongolian government, and the World Bank is pleased to be providing support in this area through its expertise and financial resources,” said Andrei Mikhnev, World Bank Country Manager for Mongolia. “The project is designed to benefit all road users including vulnerable users such as pedestrians in Ulaanbaatar through reduced traffic congestion, improved road safety, and less disruptions from natural hazards.”
“Addressing Ulaanbaatar’s urban transport issues requires a comprehensive and long-term approach to provide urban mobility for all users in a sustainable way,” said Yang Chen, World Bank Senior Transport Specialist. “This project will build the foundation for the comprehensive Ulaanbaatar Sustainable Urban Transport program, which was conceptualized based on the results of analytical work and technical assistance done by the World Bank and the municipality over the past six years.”
The Municipality of Ulaanbaatar will be responsible for the overall project implementation and oversight of the project. It is the first project in Mongolia to be fully financed by the World Bank Group’s International Bank for Reconstruction and Development (IBRD).
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Central bank decides to keep policy rate unchanged www.montsame.mn

At its meeting held today, the Monetary Policy Committee of the Bank of Mongolia took into consideration the current state and outlook of the economy and financial markets, as well as the uncertainties and risks inherent in the domestic and external environments, and reached a decision to:
Keep the policy rate at 6 percent;
Increase the amount of long-term repo financing which is to be issued in the third quarter of 2021 by up to MNT 250 billion.
The inflation rate is projected to remain at the target level of 6 percent in the near future. Currently, it stands at 6.7 percent nationwide and 6.2 percent in Ulaanbaatar city. This was mainly due to the economic growth, cash provided to the citizens, and the increase in the price of meat.
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Energy development projects to be intensified www.montsame.mn

During the cabinet meeting dated June 23, Minister of Energy N.Tavinbekh delivered a presentation on the work load of the country’s energy industry for 2020-2021 winter season and future issues of concern.
The government concluded that it is now of importance to intensify developments in the energy industry, such as extension, refurbishment and establishment of energy sources. Corresponding ministers were charged with ensuring preparations for the upcoming winter season and keeping reserves of raw materials for the refined coal briquette used in the country.
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CPC's great practice offers inspirations, says Turkish party leader www.xinhuanet.com

Interview: CPC's great practice offers inspirations, says Turkish party leader

Source: Xinhua| 2021-06-21 21:00:19|Editor: huaxia
 

ISTANBUL, June 21 (Xinhua) -- China, led by the Communist Party of China (CPC), has accomplished an extraordinary success in eradicating absolute poverty and upholding multilateralism, Dogu Perincek, chairman of Turkey's Patriotic Party, has said.

Perincek, a well-known politician in his country, has paid several visits to China, during which he was most impressed by the tremendous efforts that Chinese people have put in creating a better life.

In a recent interview with Xinhua, Perincek said that the New China was one of the poorest countries when established in 1949, "but the country created a 'miracle' in such a short time" as it developed to become an engine of world economy.

"We can call this century-old history a heroic history or a legendary history of the CPC," he said, speaking of the upcoming 100th anniversary of its founding early next month, with a belief that the party will lead China to another century of great success.

Perincek noted that the CPC, the world's largest political party with more than 90 million members, has acted "equally and sincerely" in its relations with other parties.

"It does not impose its position," he stressed. "When telling its stories, it always says 'these are our experiences.'"

In his view, the CPC is truly "admirable" for respecting other parties' choices of path in line with each country's unique conditions.

Perincek also spoke highly of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, saying the book "Xi Jinping: The Governance of China" has showcased the Chinese president's exceptional leadership skills.

Hailing China's success in securing a "complete victory" in the fight against poverty, Perincek said "this is a great historic achievement for humanity."

Perincek said China also achieved a peerless success in the fight against the COVID-19 pandemic, he said.

China is actively promoting multilateral cooperation and building a community with a shared future for mankind, Perincek said.

"It is not egotistic and not selfish. And in this respect, it represents humanity's hopes and aspirations," he noted. (Video reporter: Wang Feng; Video editor: Liu Ruoshi)

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Microsoft reaches a $2 trillion market cap www.cnn.com

New York (CNN Business)Microsoft has officially entered the most elite of clubs: corporations with a market value exceeding $2 trillion.
The tech giant is only the second publicly traded American company, behind Apple (AAPL), to reach such a valuation. Oil company Saudi Aramco, which went public in 2019, has also previously passed that mark, though its market cap on Tuesday was $1.88 trillion.
Microsoft's (MSFT) market capitalization topped $2 trillion during trading on Tuesday, and closed just $300 million shy of that mark. Its stock on Tuesday climbed 1.1% to $265.51.
The company reached the $2 trillion milestone just over two years after it first passed the $1 trillion market cap mark.
Covid-19 helped get it there. The pandemic meant people were spending more time on their devices, boosting demand for Microsoft's computers, gaming systems and cloud computing platform. And a stock market rally — along with the success of tech companies in particular — lifted its shares.
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft's stock has gained 64% since March 2020, when pandemic lockdowns began going into effect in the United States.
In April, Microsoft reported sales were up 19% year-over-year to $41.7 billion for the three months ended March 31.
"Over a year into the pandemic, digital adoption curves aren't slowing down," CEO Satya Nadella said in a statement at the time. "We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform."
Apple's market value passed $2 trillion last August, and it currently stands at $2.24 trillion. Now, Microsoft has joined its ranks, with two other Big Tech firms, Amazon (AMZN) and Google (GOOGL GOOGLE), nipping at their heels. Amazon's market cap hit $1.77 trillion on Tuesday, and Google parent Alphabet's reached $1.67 trillion.
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Millions become millionaires during Covid pandemic www.bbc.com

More than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic.
While many poor people became poorer, the number of millionaires increased by 5.2 million to 56.1 million globally, Credit Suisse research found.
In 2020 more than 1% of adults worldwide were millionaires for the first time.
Recovering stock markets and soaring house prices helped boost their wealth.
Wealth creation appeared to be "completely detached" from the economic woes of the pandemic, the researchers said.
Anthony Shorrocks, economist and author of the Global Wealth Report, said the pandemic had an "acute short term impact on global markets", but added this was "largely reversed by the end of June 2020".
"Global wealth not only held steady in the face of such turmoil but in fact rapidly increased in the second half of the year," he said.
However, wealth differences between adults widened in 2020, and Mr Shorrocks said if asset price increases, such as house price rises, were removed from the analysis, "then global household wealth may well have fallen".
"In the lower wealth bands where financial assets are less prevalent, wealth has tended to stand still, or, in many cases, regressed," he said.
"Some of the underlying factors may self correct over time. For example, interest rates will begin to rise again at some point, and this will dampen asset prices."
Total global wealth grew by 7.4%, the report said.
Since the start of the 21st century, the number of people with wealth between $10,000 and $100,000 had more than tripled in size from 507 million in 2000 to 1.7 billion in mid-2020.
They said the increase reflected the "growing prosperity of emerging economies, especially China, and the expansion of the middle class in the developing world".
Nannette Hechler-Fayd'herbe, chief investment officer at Credit Suisse, said: "There is no denying actions taken by governments and central banks to organise massive income transfer programmes to support the individuals and businesses most adversely affected by the pandemic, and by lowering interest rates, have successfully averted a full scale global crisis."
She added: "The lowering of interest rates by central banks has probably had the greatest impact.
"It is a major reason why share prices and house prices have flourished, and these translate directly into our valuations of household wealth."
But she added that these interventions "have come at a great cost".
"Public debt relative to GDP has risen throughout the world by 20 percentage points or more in many countries.
"Generous payments from the public sector to households have meant that disposable household income has been relatively stable and has even risen in some countries."
Ms Hechler-Fayd'herbe said a "major reason" why share prices and house prices had "flourished" was due to the lowering of interest rates by banks, which, she added, translated "directly into our valuations of household wealth".
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